Latest News & VACUL Headlines
- CFPB Issued Annual Adjustment to Maximum Fee Credit Bureaus May Charge Consumers for File Disclosure
January 4, 2022Additional updates have been made to CU PolicyPro related to the CFPB recently issued annual adjustment to the maximum amount credit bureaus may charge consumers for making a file disclosure to a consumer under the Fair Credit Reporting Act (FCRA or Regulation V).
- 2022 Auto Lending: New Consumer Survey on Electric Vehicles Should Put Charge in Credit Unions’ Need to Respond
January 3, 2022Rapidly changing consumer attitudes make it clear credit unions will need to move even faster in 2022 and beyond when it comes to auto lending and relationships with not just dealers, but manufacturers.
- 2022 Cybersecurity: Analysis Finds Several Factors Driving Ongoing Growth in Ransomware Attacks
January 3, 2022Several factors are contributing to driving the number of ransomware attacks ever higher, a new analysis has found. One of the big factors: many ransomware-wielding attackers continue to rely on a number of cybercrime-as-a-service providers to support their ability to easily gain access to targets and steal data.
- Economist Doesn’t Expect Omicron, Rate Increases to Put Much of a Dent in Booming Home Market
January 3, 2022Don’t look for the effects of the Omicron variant or potential rate increases in 2022 to put much of a dent in the robust housing market, one economist is forecasting.
- FASB Told of Concerns by NAFCU Over Lack of Guidance on TDRs, Other Disclosure Issues
January 3, 2022NAFCU has sent a letter to the Financial Accounting Standards Board (FASB) sharing the association’s response to the Proposed Accounting Standards Board Update that eliminates accounting guidance for troubled debt restructurings (TDR) and enhances certain disclosure requirements.
- Homeownership? A ‘Distant Dream’ for Most Millennials
January 3, 2022Nearly half of all non-home-owning Millennials say they are saving for a house of their own, while 12% said they have abandoned any plans of ever being a homeowner, according to a new study.
- Credit Union Regulator Gives Preliminary Go-Ahead on Crypto Partnerships
January 3, 2022Credit unions have received their first green light from the National Credit Union Administration to partner with crypto firms to help members to manage digital assets. Many credit unions were hesitant to delve into the cryptocurrency market amidst concerns of regulatory backlash from the NCUA. The agency offered clarity this month to address concerns voiced by many in the credit union industry.
- CUNA Tech Council Releases Paper On Trends in Identity Authentication
January 3, 2022The CUNA Technology Council and Illuma Labs have released a new white paper on important trends in identity authentication.
- CFPB Partners with Department of Justice, Fed, and FTC to Stand up for Civil Rights Protections
January 3, 2022The Consumer Financial Protection Bureau (CFPB) announced that it partnered with the Department of Justice, the Federal Reserve Board, and the Federal Trade Commission to oppose a dangerous threat to our nation’s civil rights laws. The Consumer Financial Protection Bureau (CFPB) announced that it partnered with the Department of Justice, the Federal Reserve Board, and the Federal Trade Commission to oppose a dangerous threat to our nation’s civil rights laws.
- Federal Reserve Issues Update to Payments Study
January 3, 2022The Federal Reserve issued an update to the Federal Reserve Payments Study (FRPS) to include findings from recent survey data. The findings highlight changes in card payments and increased adoption of innovative payment methods following the emergence of COVID-19. Read more